Pre-Trading Thoughts

Egypt's PMI fell to a four-month low of 48.9 in September, due to a decline in output and new ordersNIR increased by approximately USD153 million in September, reaching USD40.825 billion Minister of Public Enterprises: State privatization program won’t be delayed by capital gains tax on EGX transactions CBE made changes to its middle-income mortgage finance program FRA has issued new regulations to allow individuals to invest in government securities and financial instruments The Railway Authority has received proposals from 6 companies (SWDY) to take over the management and operation of a number of freight transport lines ACWA Power is eyeing desalination plants in Egypt, ORAS and Hassan Allam Holding have been reported to be in talks with the SFE to build several of the plantsThe government has set up a committee to regulate M&A activity in the healthcare industry and approve acquisition bidsCement exports in 8M2021 almost tripled, reaching USD281million from USD94 million in 2020HRHO's Vortex Energy will invest EUR 625 mn in Spanish solar developer Ignis Energia MHOT expects 1Q21/22 results to show some recovery from the losses incurred in previous quartersKey Commodity Changes: Oil prices hit USD81.43/bblBlack sea urea index at USD415/ton; Egypt urea index at USD610/tonCaustic Soda prices climbed to USD449/tonSteel/Iron Ore spreads are at the USD389 mark